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Resolution No. 90-58 EDA
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Resolution No. 90-58 EDA
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10/9/2017 2:48:49 PM
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EDA
EDA Document Type
EDA Resolution
Meeting Date
08/13/1990
Resolution #
90-58
Resolution Title
Approving the Terms of $1,115,000 Public Project Revenue Bonds, Series 1990A (City of Lino Lakes Installment Contract Obligations) of the Lino Lakes Economic Development Authority
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Member Bohjanen introduced the following written resolution <br />and moved its adoption the reading of which had been dispensed with by unanimous <br />consent: <br />RESOLUTION NO. 58-90 <br />A RESOLUTION APPROVING THE TERMS OF <br />$1,115,000 PUBLIC PROJECT REVENUE BONDS, <br />SERIES 1990A (CITY OF LINO LAKES INSTALLMENT <br />CONTRACT OBLIGATIONS) OF THE LINO LAKES <br />ECONOMIC DEVELOPMENT AUTHORITY <br />BE IT RESOLVED By the City Council of the City of Lino Lakes, Anoka <br />County, Minnesota (the "City") as follows: <br />Section 1. Terms of Bonds. <br />1.01. By action taken by its Board of Commissioners, the Lino Lakes <br />Economic Development Authority (the "Authority") has approved the issuance and <br />sale of its Public Project Revenue Bonds, Series 1990A (City of Lino Lakes <br />Installment Contract Obligations) (the "Bonds") in the principal amount of <br />$1,115,000 originally dated September 1, 1990, in the denomination of $5,000 each <br />or any integral multiple thereof, numbered No. R-1, upward, bearing interest at the <br />rates and maturing on February 1 of the years as follows: <br />Year Principal Interest <br />(February 1) Amount Rate <br />1995 $ 25,000 6.30 96 <br />1996 25,000 6.40 <br />1997 25,000 6.45 <br />1998 40,000 6.50 <br />1999 50,000 6.60 <br />2000 50,000 6.70 <br />2001 75,000 6.75 <br />2002 75,000 6.80 <br />2003 75,000 6.90 <br />2004 75,000 7.00 <br />2005 100,000 7.00 <br />2006 100,000 7.10 <br />2007 100,000 7.10 <br />2008 100,000 7.15 <br />2009 100,000 7.15 <br />2010 100,000 7.15 <br />2 <br />
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